Welcome to our dedicated page for KORU Medical Systems news (Ticker: KRMD), a resource for investors and traders seeking the latest updates and insights on KORU Medical Systems stock.
KORU Medical Systems, Inc. (symbol: KRMD) is a prominent developer and manufacturer of innovative medical devices and supplies, headquartered at 24 Carpenter Road, Chester, New York, United States. Specializing in mechanical infusion products, the company is renowned for its cutting-edge FREEDOM Infusion Systems. These systems include the FREEDOM60 and FreedomEdge Syringe Drivers, designed to provide efficient and reliable delivery of life-saving therapies.
KORU Medical Systems primarily focuses on subcutaneous infusion devices, which are essential for administering immunoglobulin therapies to patients suffering from chronic illnesses such as Primary Immunodeficiencies (PIDD) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). Their product line features the Precision Flow Rate Tubing and HIgH-Flo Subcutaneous Safety Needle Sets, enhancing the safety and effectiveness of home-based treatments.
The company's commitment to quality and innovation has positioned it as a leader in the medical device industry. Recent achievements include advancements in product technology and expanded partnerships aimed at enhancing patient care and expanding market reach. KORU Medical Systems continues to prioritize patient-centered solutions, ensuring their products meet the highest standards of safety and performance.
KORU Medical Systems (NASDAQ: KRMD) has announced that it will report its first quarter 2023 financial results on May 4, 2023. The management will host a conference call at 4:30 p.m. ET to discuss these results and provide updates on corporate developments. The call can be accessed by dialing (800)-734-8507 for U.S. participants, or (212)-231-2925 for international calls, using conference ID: 22026692. A live and archived webcast will also be available on the company’s website. KORU Medical focuses on innovative subcutaneous drug delivery systems designed to enhance patient quality of life, with products like the FREEDOM Syringe Infusion System.
KORU Medical Systems, Inc. (NASDAQ: KRMD) reported strong financial results for Q4 and the full year 2022, achieving a 13% increase in net revenue for Q4 to $7.3 million and 19% growth for the year, totaling $27.9 million. The company saw significant growth in its Novel Therapies business, with revenues skyrocketing 259.9% in Q4, thanks to new collaborations. Although the gross profit increased by 6.4%, it dropped as a percentage of revenue to 55.5% due to rising manufacturing costs. The company anticipates 2023 revenue between $32.5 million and $33.5 million, representing a 17-20% growth.
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